KUALA LUMPUR, 5 October 2022 – Bank Negara Malaysia (BNM) warned that pre-planned short-term foreign currency outflow over the next 12 months could reach US$9.4 billion (roughly RM43.69 billion) amid a strengthening dollar environment, in which the revised statement first released last Friday.
With a value of US$8.48 billion, the most recent estimate surpasses the one that was previously made public on August 30, 2022. 39.33 billion ringgit. The nation was anticipated to receive US$2.16 billion (RM10.2 billion) in foreign exchange during the other day; however, that sum has now been lowered to US$2.04 billion (RM9.46 billion).
The country’s predetermined short-term outflow of foreign currency loans, securities, and deposits includes the government of Malaysia’s scheduled repayment of its external debt as well as maturing BNM interbank bills denominated in foreign currencies, the bank said in a statement on Friday.
According to a policy that has been in place since April 2006, predicted foreign currency inflows from interest income and the withdrawal of project loans are excluded from the data. The predetermined foreign currency outflow for Malaysia was increased upward amid the ringgit’s ongoing decline.
This morning, the ringgit started at 4.64 against the US dollar as currency markets followed the lead of anticipated increases in US interest rates to combat inflation.
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